New 1,400-Home Site to be Developed in Birmingham’s Brookhaven and
Richfield Subdivisions

Economic impact for the project estimated to exceed $630 million

July 30, 2014 12:00 PM Eastern Daylight Time

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Birmingham-Wesley Chapel Investments, LLC has announced that it has
purchased 350 building lots in the Brookhaven Subdivision, along with an
adjacent 550-acre parcel of land, from Four Star Holdings, a company
owned by former Greater Birmingham Association of Home Builders
president Bobby R. Smith, Jr.

Birmingham-Wesley Chapel Investments plans to work with Smith and other
local home builders to provide building lots for 1,400 new single-family
homes and patio homes.

William
Gary Allen, managing director of SunBelt
Land Management and founder of Birmingham-Wesley Chapel Investments,
notes that the project will generate an economic impact of $630 million.
It is also estimated that the Brookhaven and Richfield developments will
create 4,200 new jobs. 1

“Our vision for this project extends far beyond the mere construction of
new homes. It is about building communities and enabling home ownership
in St. Clair County, while spurring job creation and growth in the metro
Birmingham region,” said Allen.

This is important to note, as job creation in the construction industry
has been uneven for Alabama. The state has lost 2,700 construction jobs
over the last 12 months, and 1,200 construction jobs from May to June
2014 alone. Alabama also ranks 43rd nationally in
construction job growth, according to the Associated
General Contractors of America.

“Four Star Holdings is excited about our new partnership with SunBelt,
and we feel very blessed to have teamed up to develop the Brookhaven and
Richfield projects. We look forward to our efforts creating new jobs and
contributing to the economic growth in St. Clair County,” commented
Smith.

Single-family home prices in the development will range from $175,000 -
$450,000, with a small number of patio homes starting from $100,000. The
project is slated to begin in August 2014.

1 For every single family home constructed, three full-time
jobs are created for a year, with half of the jobs in construction and
the other half in related industries, according to the National
Association of Home Builders.